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Explore The Diverse Realms of Analysis ??

There are several types of data analysis, each serving a different purpose. Descriptive analysis involves summarizing basic characteristics of data through measures and visualizations. Exploratory data analysis investigates datasets to uncover patterns and relationships. Inferential statistics uses sample data to make predictions about larger populations through techniques like hypothesis testing and regression analysis.

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37 views10 pages

Explore The Diverse Realms of Analysis ??

There are several types of data analysis, each serving a different purpose. Descriptive analysis involves summarizing basic characteristics of data through measures and visualizations. Exploratory data analysis investigates datasets to uncover patterns and relationships. Inferential statistics uses sample data to make predictions about larger populations through techniques like hypothesis testing and regression analysis.

Uploaded by

Djdj
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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DATA

ANALYSIS
TYPES
W H AT I S DATA A N A LYS I S

• Data analysis is the process of


inspecting, cleaning, transforming, and
modeling data to discover useful
information, informing conclusions,
and supporting decision-making.
• It involves applying statistical, logical,
and analytical techniques to data to
uncover patterns and insights.
• There are several types of data analysis,
each serving a different purpose and
employing different techniques.
1. DESCRIPTIVE ANALYSIS

• This type of analysis involves


summarizing and describing the basic
characteristics of a dataset.
• It helps in understanding the data
distribution, central tendency, and
variability.
Example: Calculating measures like
mean, median, mode, standard deviation,
and creating visualizations such as
histograms, bar charts, and pie charts.
2. EXPLORATORY DATA
ANALYSIS (EDA)
• EDA is the process of investigating a
dataset to uncover patterns, detect
anomalies, test hypotheses, and identify
relationships between variables.
• It involves techniques like scatter plots,
box plots, correlation analysis, and
clustering algorithms.
3. INFERENTIAL STATISTICS
• This type of analysis uses sample data to
make inferences or predictions about a
larger population.
• It involves methods like hypothesis
testing, confidence intervals, and
regression analysis.
Example: Company could use survey data
from a sample of customers to estimate
the overall customer satisfaction level
within a specified confidence interval.
4. PREDICTIVE ANALYSIS

• Predictive analysis uses historical data


and statistical models to forecast future
events or behaviors.
• It includes techniques like regression
analysis, decision trees, and machine
learning algorithms.
Example: A bank using customers' past
financial data to predict the likelihood of
loan defaults.
5. CAUSAL ANALYSIS

• This type of analysis aims to identify


cause-and-effect relationships between
variables.
• It involves methods like experimental
design, instrumental variables, and
structural equation modeling.
Example: A study could investigate the
causal effect of a new teaching method
on student performance.
6. TEXT ANALYTICS

• Text analytics involves analyzing


unstructured textual data to extract
insights, sentiments, and patterns.
• It uses techniques like natural language
processing, topic modeling, and
sentiment analysis.
Example: Analyzing social media data to
gauge public opinion about a product or
service.
7. DIAGNOSTIC ANALYSIS
• Diagnostic analysis is the process of
examining data to identify the root
causes of problems or anomalies.
• It often involves techniques like
decision trees, fault tree analysis, and
root cause analysis.
Example: A manufacturing company
could use diagnostic analysis to identify
the primary sources of product defects.

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